The shares of NB Plc were admitted to trading on the floor of the Nigerian Stock Exchange on 5th September, 1973. Currently, NB Plc is one of the topmost companies on The Nigerian Stock Exchange with a market capitalisation of over N1.1 trillion as at 31 st December, 2017.
With about 111,462 shareholders as at 31st December, 2017, the authorised share capital of the Company is N5 billion, divided into 10 billion Ordinary Shares of 50 kobo each. The issued and fully paid up share capital as at 31 st December, 2017 stood at 7,996,902,051 Ordinary Shares of 50 kobo each. As at 31 st December, 2017, Heineken N.V had a majority shareholding of 55.95% while 44.05% is held by Nigerian and foreign individuals and associations.
The Company announced a Profit after Tax of N18 billion for the first half of 2018, according to the unaudited financial results released to The Nigerian Stock Exchange. The N18 billion represents a 22 per cent decrease over the N24 billion recorded in the corresponding period in 2017.
An analysis of the filing sent to The Nigerian Stock Exchange indicated that The Company’s revenue dipped by 5 per cent from N181 billion in the same period in 2017 to N173 billion in the current period.
A further analysis of the statement show that results from operating activities declined by 20 per cent from N39 billion in 2017 to N32 billion in the corresponding months in 2018, just as Profit before Tax also dropped by 19 per cent from N34 billion in 2017 to N28 billion in the period under review.
In the filing statement signed by the Company Secretary/Legal Adviser, Mr. Uaboi Agbebaku, the Company stated that the new excise duty regime and higher rate of beer introduced by the Federal Government in June 2018 further impacted on affordability in the period under review.
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Although the Nigerian economy officially exited recession in the second quarter of 2017, the aftershocks continued throughout the year. Whilst the foreign exchange situation improved in the course of the year, double digit inflation continued to impact both businesses and consumers. Nevertheless, the Company was able to end the year with improved results through continuous focus and execution of the twin agenda of Cost Leadership and Market Leadership supported by Innovation.